The plan can represent two different types of ventures:
Customers: You must define who your customers are and how many of them exist on the Internet. An analysis of the customer base should not be a casual guess. | |
Competitors: Use Internet search engines to look for known competitors or similar products to yours. Be sure to use several search engines, because each uses different search techniques. Before your presentation, look again. All major direct competitors should be found and analyzed in your product. Remember, readers of your business plan will be very interested in how you are going to beat the competition. | |
Advertising: Describe how you are going to tell the Internet community about your product or service. Designing beautiful Web pages is only a first step. You must also get the word out about your Web site. Some tips: detail a plan to add your Web address to the databases of search engines, add it to the bottom of all of your e-mail messages, and perhaps create physical novelties for local customers. | |
Pricing: How are you setting prices for your products or services? If your product is intangible information delivered over the Internet, you should try to create some sort of pricing model to justify your prices. You could start by researching what others are charging for similar products. | |
Delivery & Payment: How are you going to deliver your product and get paid? E-mail alone is not secure. Consider encryption techniques and on-line payment services. |
* Adapted from a document by Michael Yellin, MBA/MS-MoIS Student